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PRESS RELEASE

Rosneft, Rostec (Russian Technologies) and Pirelli today signed a Memorandum of Understanding with regard to a joint research and development agreement in the area of materials to be used in the manufacturing of tyres.

The memorandum was signed by Igor Sechin, President and Chairman of the Management Board at Rosneft, Marco Tronchetti Provera, Chairman and CEO of Pirelli & C. S.p.A. and Sergei Chemezov, General Director of Rostec State Corporation.

The tyre manufacturing materials would include synthetic rubber, fillers such as carbon black and reinforcing materials, all developed in compliance with Pirelli’s high technical standards.

Pirelli’s Tronchetti Provera said: “Russia is of strategic importance to Pirelli and this 3-way operation shows our commitment to the country growing deeper. It is also an opportunity for Pirelli to take advantage of the great expertise and experience of its two Russian partners.”

Commenting on the signing, Igor Sechin said: “the realization of this project will help Rosneft and its potential industry partners with the participation of Pirelli and Rostec to organize an efficient production of the most advanced, high quality materials, elaborated by state of the art technologies. These products will comply with highest economical and ecological standards and correspond to the most sophisticated customer needs.”

“Enterprises of Rostec State Corporation are deeply integrated into the global economy – said Sergey Chemezov – The partnership with Pirelli and “Rosneft” in the sphere of development of new materials allows Rostec firmly establish itself in the global market section. Commercialization of research and development results is one of the priorities of the corporation. Extension of cooperation in this sphere will give the opportunity to realize the potential of research institutions that are part of Rostec and to use the knowledge of Russian scientists”.